B&E 105: TECHNOLOGY FOR BUSINESS SOLUTIONS EXAM 5 CHECKLIST & OUTLINE

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1 B&E 105: TECHNOLOGY FOR BUSINESS SOLUTIONS EXAM 5 CHECKLIST & OUTLINE Strategy for doing well: Work along with the videos, filling out your Excel file(s) step by step. Do this until you can comfortably complete the file without any help from these notes or the videos themselves. By the time you sit for the exam, you should have been able to complete the Excel practice file(s) perfectly several times without assistance. Checklist: These topics may appear on the exam. Check them off as you learn them. (Notice that there are multiple checkboxes for each!) Anything covered in the videos can be tested. The format of the exam is like that of the practice file(s). Nested IF functions Sparklines Inserting comments Show formulas MATCH INDEX INDEX(MATCH()) Data Validation (list) Text to columns SUBSTITUTE Paste values Sorting a data table LARGE SMALL Chart with two vertical axes Transposing data TRANSPOSE TODAY NOW WEEKNUM NETWORKDAYS WORKDAY Trace Precedents/Dependents Remove duplicates COUNT COUNTA SUMIFS Printing Text boxes Insert shapes Bring forward or back Aligning text and shapes Grouping RAND RANDBETWEEN CHOOSE Forecasting All previous exam material 1. Tools, Part 1 (~20:28) =IF(logical_test1, [value_if_true1], IF(logical_test2, [value_if_true2], [value_if_false2])) =MATCH(lookup_value, lookup_array2, [match_type]) A nested IF function. Returns value_if_true1 if logical_test1 is true. If logical_test1 is false, it performs logical_test2 and returns value_if_true2 if logical_test2 is true and value_if_false2 otherwise. Returns the row position of the lookup_value in the lookup_array2. Set

2 match_type equal to 0 for the exact match. =INDEX(lookup_array, row_num) Returns the value in the row_num position of the lookup_array. =INDEX(lookup_array, Returns the value in the position obtained MATCH(lookup_value, lookup_array2, by the MATCH function in the [match_type])) lookup_array. Nesting of formulas in Excel involves putting one or more Excel formulas within another. In this video, we use nested functions for IF statements and for the INDEX(MATCH()) combination. Nested IFs o Unlike a regular IF function, nested IFs allow for more than 2 outcomes as the result of performing a logical test. o See the description in the above table. If the first IF statement is true, value_if_true1 will be displayed. If the first IF statement is false, it will proceed onto the next IF statement, checking if that is true. If the second IF statement is true, value_if_true2 will be displayed. If it is false, value_if_false2 will be displayed. o Thus, for a nested IF with 2 IF statements, there are 3 possible outcomes. o Remember to put around text for your value_ifs. Sparklines o Sparklines show general trends of the highlighted data. o You can drag down Sparklines if you are correctly using relative references. o To add: Insert Tab Sparklines Line o Select the Data Range (what you want graphed) and where you want to place the Sparklines (the Location Range). Insert Comments o Right click a cell and select Insert Comment. o Cells with comments have a small red triangle in the top right corner. o Comments can be edited or deleted by right clicking a cell with a small red triangle in the top right corner and selecting Edit Comment or Delete Comment. Show Formulas o Press CTRL and.~. on your keyboard. The is just above the Tab key and under the Esc key on your keyboard o Alternatively: File Tab Options Advanced Display options for this worksheet select Show formulas in cells instead of their calculated results INDEX(MATCH()) o The =INDEX(MATCH()) function overcomes two big restrictions of the VLOOKUP function: VLOOKUP looks up a value in the left most column of a table only.

3 VLOOKUP requires that the data be sorted o See the table above for the exact syntax of this nested function. Notice that the INDEX function returns the value in the cell position that the MATCH function provides. o Note that lookup_array will contain the items that you want to have produced for you in a cell while lookup_array2 is the column with the items you are looking for. Example: Suppose you have a list of students in one column and a list of their exam scores in the next column in a spreadsheet. At the top of the spreadsheet you want to use the INDEX(MATCH()) function to create a cell that returns the exam score when you input a student s name. In this case, the lookup_array will be the column of exam scores and the lookup_array2 will be the column of student names. Be careful to include absolute references for the lookup_array and lookup_array2 if you plan on dragging down the function. Data Validation (drop-down lists) o To create a drop-down list so that only select items can be input into a cell, first select the cell where you want the drop-down list, then: Data Tab Data Tools Data Validation Settings in the Allow drop down menu select List choose the values that you will allow using the Source box. 2. Tools Part 2 (~19:14) =SUBSTITUTE(text, old_text, new_text) =LARGE(array, k) =SMALL(array, k) =TRANSPOSE(array) Replaces the old_text of the text in a cell with new_text. Returns the k th largest value of the selected array Returns the k th smallest value of the selected array Converts a vertical range to a horizontal range and vice versa. The transposed data will have no formatting and update as the original range is updated. Press CTRL + SHIFT + ENTER to activate the function. Text to columns o We can split one column of data into two columns of data by: Data Tab Data Tools Text to Columns

4 o If the data is delimited by some constant space or symbol, select Delimited then Next Sometimes we may need to paste in the space from the column instead of just choosing the Space delimiter. Go to cell in the column you wish to split, highlight and copy the delimiter (or space), then proceed to the Text to Columns box SUBSTITUTE o In our context, used to replace unwanted items in a cell with nothing, indicated with as the new_text. Paste Values o Used to paste the results of a function without updating the values. o Select the data to copy, then: Home Tab Clipboard Paste Paste Values Sorting a data table: o Select the data of the table (not the headings). Then: Data Tab Sort & Filter Sort o Choose the value that you want to sort on and the direction (ascending or descending). o The sort does not update if the values are changed. LARGE and SMALL o Unlike MAX and MIN, these allow you to choose the 1 st, 2 nd, 3 rd,, etc. largest and smallest values. o Be sure to use absolute references for the array if you plan on dragging down the formula. Chart with two vertical axes o To add a chart, select all the data and add, for example, a scatter as we have done in the past. o Then, with the chart selected: Design Tab Type Change Chart Type Combo o Choose for each series if you d like a line, bar, or one of the other options. o Check if you d like a particular series to appear on a Secondary Axis. Transposing Data o The goal of transposing data is to convert rows to columns or vice versa o Select the data, copy, and choose Transpose under: Home Tab Clipboard Paste Transpose o By this method, the transposed table does not update. o The TRANSPOSE function transposes the data and allows the cells to update when the source values change, and there will be no formatting.

5 3. Tools Part 3 (~11:48) If the data you are selecting has n rows and k columns, select a space that has n columns and k rows, starting at the top left corner of space you will be pasting in. Begin typing =TRANSPOSE(select-your-original-data) Press CTRL + SHIFT + ENTER on your keyboard. Pressing ENTER alone will not work. =TODAY() No argument, returns the date. =NOW() No argument, returns the date and time. =WEEKNUM(serial_number) Returns the week number for the input serial_number. =NETWORKDAYS(start_date, end_date) Returns the number of working days between the start_date and end_date. =WORKDAY(start_date, days) Returns the serial number of the date that is the specified number of (work) days after the start_date =COUNT(array) Counts the number of cells in the array that contain numbers (not text). =COUNTA(array) Counts all non-empty cells in the array. =SUMIFS(sum_range, criteria_range1, Adds the cells in the sum_range if they criteria1, ) meet the criteria1 in criteria_range1 TODAY, NOW, WEEKNUM, NETWORKDAYS, WORKDAY o From the table above, we see that TODAY and NOW take no arguments and update upon saving the file or pressing F9 to refresh the worksheet. o Notice that NETWORKDAYS and WORKDAY have the start_date first, in contrast to DAYS o A serial number is a number that represents a date within Excel. The serial numbers began at 1 on January 1 st, 1900 and count consecutively up to today. Trace Precedents, Trace Dependents o To observe relationships among cells using arrows: Formulas Tab Formula Auditing Trace Precedents or Trace Dependents o Click Remove Arrows just below Trace Dependents to remove the arrows To remove duplicates from a table, select the data and: Data Tab Data Tools Remove Duplicates COUNT and COUNTA o COUNT: counts the number of cells in a range with numbers o COUNTA: counts the number of cells in a range any text

6 SUMIFS o Unlike SUMIF, allows for the selection of more than one criteria. o The sum_range includes the cells that you wish to sum given that the corresponding cell in the criteria_range1 is equal to criteria1. Printing o Select the area you wish to print, then: Page Layout Tab Page Setup Print Area Set Print Area o You can clear the print area by the same method. 4. Tools Part 4 (~20:39) =RAND() =RANDBETWEEN(bottom, top) =CHOOSE(index_num, value1, [value2], ) Selects a number randomly between 0 and 1, with any number equally likely to appear Selects an integer (counting number) between bottom and top, with any number equally likely to appear. Displays value1 if index_num is 1. Displays value2 if index_num is 2, and so on. Text boxes: Insert Tab Text Text Box o Text in a text box is not associated with a cell location and can be easily moved by drag and drop. o Text in a text box can be formatted with different sizes, fonts, and alignments. o The Format tab appears in the ribbon when you are working on your text box, allowing for more formatting options. Shapes: Insert Tab Illustrations Shapes o Shape formatting, bevel options, and shading/shadows are available on the Format tab in the Shape Effects section of the Shape Styles group. o Note that you must select the shape (or the text box) for the Format tab to appear. Grouping and alignment o To bring an item forward or back: Format Tab Arrange Bring Forward or Send Backward o Now, to align, stack the text box and shape, then Format Tab Arrange Align

7 o And for grouping, select all objects and text you wish to group: Format Tab Arrange Group (or Ungroup) o Grouped text and shapes allow you to move all grouped items together and copy/paste all grouped items together. o Multiple groups can be aligned using the Align option as above after all groups are selected. For example: Align Top Distribute Horizontally o Different groups can also be grouped together. o Editing is still available to individual items within a group by double clicking what you wish to edit. RAND and RANDBETWEEN o RAND returns a decimal between 0 and 1 from the uniform distribution (all numbers between 0 and 1 are equally likely to be picked). It takes no arguments. o RAND can be nested within an IF function to run a simulation of a coin flip. o RANDBETWEEN randomly selects an integer between (and including) the values you specify. o Pressing F9 on your keyboard will recalculate the RAND or RANDBETWEEN formulas. CHOOSE o Chooses a value from values listed in the formula (see above table). o You can nest a RANDBETWEEN function to display text as an output rather than a number. Forecasting o Select your dates and values. Data Tab Forecast Forecast Sheet o Excel outputs a chart with the values, forecast values, and upper/lower confidence bounds on a new sheet, in addition to those values in a table. o Note that Excel forecasting is not perfect. The context matters. Excel can forecast negative interest rates even though this doesn t make much economic sense. Be sure that you interpret the forecast results carefully and think about what is reasonable.

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